Li Auto (NASDAQ: LI) is aiming to expand its electric vehicle line-up to 11 models by 2025, it was reported on Tuesday.
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According to a report by Reuters, Li Auto’s president and chief engineer, Ma Donghui, said on the sidelines of the Shanghai auto show that the company plans to up its current line-up of four models and is targeting the market for vehicles priced at $29,100 and higher.
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The extended line-up by 2025 is said to include one flagship model, five range-extended electric vehicles, and five high-voltage pure electric models.
Li Auto revealed earlier this month that it delivered 20,823 vehicles in March 2023, surpassing the 20,000 monthly delivery mark. The delivery number represented an increase of 88.7% year over year and took the company’s first quarter deliveries to 52,584, up 65.8% compared to the first quarter of 2022.
Xiang Li, chairman and chief executive officer of Li Auto, said at the time that the company “has captured nearly 20% market share in the RMB300,000 to RMB500,000 SUV market in China” and that it will begin to deliver the Li L7 Air and Li L8 Air in April.
Li is also planning to build more than 3,000 supercharging stations across China by 2025, which would cover 90% of the country’s major cities and highways.
Li Auto shares are currently down over 1% premarket after a more than 6% gain on Monday.
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